Multi-party risk management helps manage cement plant construction in Thailand

Prasanta Kumar Dey; Chotchai Charoenngam; Stephen O. Ogunlana; Dechjaroen Kajornkiat

doi:10.1504/IJSTM.2009.024577

Multi-party risk management helps manage cement plant construction in Thailand

Prasanta Kumar Dey, Chotchai Charoenngam, Stephen O. Ogunlana, Dechjaroen Kajornkiat

Research output: Contribution to journal › Article › peer-review

3 Citations (Scopus)

Abstract

Several parties (stakeholders) are involved in a construction project. The conventional Risk Management Process (RMP) manages risks from a single party perspective, which does not give adequate consideration to the needs of others. The objective of multi-party risk management is to assist decision-makers in managing risk systematically and most efficiently in a multi-party environment. Multi-party Risk Management Processes (MRMP) consist of risk identification, structuring, analysis and developing responses from all party perspectives. The MRMP has been applied to a cement plant construction project in Thailand to demonstrate its effectiveness. Copyright © 2009 Inderscience Enterprises Ltd.

Original language	English
Pages (from-to)	411-435
Number of pages	25
Journal	International Journal of Services Technology and Management
Volume	11
Issue number	4
DOIs	https://doi.org/10.1504/IJSTM.2009.024577
Publication status	Published - Apr 2009

Keywords

Cement plant construction
Fault tree analysis
FTA
Multi-party
Risk management
Risk responses

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10.1504/IJSTM.2009.024577

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abstract = "Several parties (stakeholders) are involved in a construction project. The conventional Risk Management Process (RMP) manages risks from a single party perspective, which does not give adequate consideration to the needs of others. The objective of multi-party risk management is to assist decision-makers in managing risk systematically and most efficiently in a multi-party environment. Multi-party Risk Management Processes (MRMP) consist of risk identification, structuring, analysis and developing responses from all party perspectives. The MRMP has been applied to a cement plant construction project in Thailand to demonstrate its effectiveness. Copyright {\textcopyright} 2009 Inderscience Enterprises Ltd.",

keywords = "Cement plant construction, Fault tree analysis, FTA, Multi-party, Risk management, Risk responses",

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AU - Charoenngam, Chotchai

AU - Ogunlana, Stephen O.

AU - Kajornkiat, Dechjaroen

PY - 2009/4

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AB - Several parties (stakeholders) are involved in a construction project. The conventional Risk Management Process (RMP) manages risks from a single party perspective, which does not give adequate consideration to the needs of others. The objective of multi-party risk management is to assist decision-makers in managing risk systematically and most efficiently in a multi-party environment. Multi-party Risk Management Processes (MRMP) consist of risk identification, structuring, analysis and developing responses from all party perspectives. The MRMP has been applied to a cement plant construction project in Thailand to demonstrate its effectiveness. Copyright © 2009 Inderscience Enterprises Ltd.

KW - Cement plant construction

KW - Fault tree analysis

KW - FTA

KW - Multi-party

KW - Risk management

KW - Risk responses

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JF - International Journal of Services Technology and Management

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ER -

Multi-party risk management helps manage cement plant construction in Thailand

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Keywords

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